Market Sectors

New Jersey has an unmatched location and a population that developers dream about. It’s no wonder the commercial real estate industry is flourishing and evolving across all segments of the market.

Office
SJP names new senior vice president for leasing, marketing

SJP Properties has named a new senior vice president to help grow the firm’s office portfolio, tenant roster and third-party construction and project management business in the region.

Industrial
CBRE: Picture frame maker relocating, acquires 45,000 sq. ft. building in Somerset

A picture frame manufacturer has acquired a roughly 45,000-square-foot industrial building in the Somerset section of Franklin, in a newly announced transaction by CBRE.

Government & Public Policy
Developers join public officials, ex-baseball stars to hail Paterson stadium revival

A development team has broken ground on a long-awaited plan to revitalize and reopen Paterson’s historic Hinchliffe Stadium, joining a host of public officials and retired baseball stars to mark the start of the $94 million project.

Finance & Capital Markets
Saxum lands $47 million loan for Philadelphia rental project, JLL says

Saxum Real Estate has secured nearly $47 million in financing for a 297-unit multifamily project in Philadelphia, according to a Morristown-based debt placement team with JLL.

Office
Psychiatry group inks 2,500 sq. ft. office lease in Cherry Hill, WCRE says

A psychiatry practice has leased 2,500 square feet of office space in Cherry Hill, under a transaction arranged by Wolf Commercial Real Estate.

Health Care & Education
New Jersey needs turnkey lab space, faster approvals to compete for life sciences users

Experts say New Jersey faces a growing challenge: While it’s still a major draw for pharmaceutical research and development, speed to market has become increasingly important to life sciences users. That means the state’s lack of move-in-ready lab space — and its lengthy approval process for new construction — puts it at a disadvantage to competing markets.

Residential & Mixed Use
Hopkins Group opens 40-unit rental project at historic Elks lodge in Journal Square

A developer has unveiled its latest project in Jersey City with the opening of 40 new loft apartments inside a historic Elks lodge building.

Retail
Bayoh opens new IHOP at mixed-use project in downtown Newark

A developer and restaurateur joined local officials last week to open a new IHOP in Newark, part of a mixed-use project that will also bring 84 apartments to the downtown.

Retail
Ice cream parlor opens in Hillsborough, inking lease with Larken Associates

Larken Associates has welcomed a new ice cream shop to a five-building retail, medical and office complex.

Residential & Mixed Use
Developers tout leasing milestone at 338-unit rental project in Marlton

A joint venture has leased up the first phase of a 338-unit apartment project in the Marlton section of Evesham, part of an ongoing mixed-use development along Route 70.